Stock Market & Financial Investment News

Lockheed Martin completes propulsion module for SBIRS GEO-4 space vehicleLockheed Martin completed the propulsion module for the fourth Space-Based Infrared System Geosynchronous Earth Orbit space vehicle and is now proceeding with satellite assembly, integration and test. SBIRS provides our nation with continuous early warning of ballistic missile launches and other tactical intelligence. The propulsion module maneuvers the satellite during transfer orbit to its final location and conducts on-orbit repositioning maneuvers throughout its mission life. The completed propulsion module shipped to the company's Sunnyvale, Calif. facility, where the satellite power and avionics boxes will be added prior to installing the mission payload that will be delivered by Northrop Grumman later this year.

Lockheed Martin to pay $62M to settle retirement plan lawsuit, WSJ saysLockheed Martin will pay $62M to settle a civil suit alleging its 401(k) plan charged unreasonable fees, reports the Wall Street Journal, citing legal filings and company statements. As part of the settlement, Lockheed will also have to submit monthly evaluations of certain aspects of its plan, offer new low-cost funds, and solicit bids from at least three large firms to serve as administrative managers of the company's retirement plans. Reference Link